- Janover’s $5M SOL purchase signals growing institutional interest in staking rewards
- Solana shows bullish momentum with W-pattern and key breakout near $134 resistance
- RSI and MACD indicators point to strengthening buying pressure and trend continuation
Real estate technology firm Janover Inc. has deepened its commitment to digital assets by acquiring an additional $5 million worth of Solana (SOL). The firm now holds over 83,000 SOL tokens, with the latest purchase bringing in 44,158 coins.
As of April 11, this puts the value of Janover’s holdings at approximately $9.6 million. This move comes shortly after the company approved a new treasury strategy on April 4.
The policy allows for long-term crypto accumulation, starting with Solana. The company also revealed plans to operate one or more validators on the network.
Hence, Janover will not only benefit from potential price appreciation but also earn staking rewards. This aligns with its goal to support decentralized networks while optimizing capital allocation from its recent $42 million financing round.
Technical Setup Suggests SOL Is Approaching a Critical Breakout
Solana has shown strength over the past 24 hours, posting a 2.98% gain and trading at $132.14. Volume rose slightly to $4.2 billion, indicating sustained interest. Support levels around $126 to $128 have held firm. Buyers stepped in at these zones, pushing the price higher after each dip.
Additionally, the chart displays a W-shaped recovery pattern. This reflects bullish momentum, especially with recent higher lows and higher highs.
Source: CoinMarketCap
Key resistance levels are forming between $132.50 and $134.00. If SOL breaks above these points with strong volume, a retest of $136 to $140 may follow. However, a rejection could bring the price back toward $128. A breakdown below this support may open the door for lower targets.
Momentum Indicators Continue to Strengthen
SOL/USD daily price chart, Source: TradingView
The RSI has moved to 54.16, pushing past the neutral 50 mark. This signals that bullish sentiment is building. There’s still room before the RSI reaches overbought territory, allowing more upside.
Furthermore, the MACD indicator has confirmed a bullish crossover. The histogram is now in positive territory and widening, showing increasing buying strength.
